repo32

Background Up or Down

This script will color the background based upon whether it is positive or negative for the day. When looking at numerous charts, you can instantly see if they are up or down for the day. For me, I like to be going long on the stocks that are already moving up and short on the ones that are moving down. When using lower time frames, you can lose perspective of where it is on the daily chart .

On the example above, you can see a 5 minute chart of NFLX . It shows you when it dropped below the previous days close.
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Want to use this script on a chart?
//Created by Robert Nance 11/19/15
//This script simply colors the background when price is above or below the previous day close.
//Works nice for seeing if the stock is up or down for the day.
study(shorttitle="UP/DN", title="Background Up or Down", overlay=true)

cdl = input(true, title="Previous Daily Closing")
dclose = security(tickerid, 'D', close[1]) 
positive = close > dclose ? green : na
negative = close < dclose ? red : na
bgcolor(positive, transp=75)
bgcolor(negative, transp=75)

Kommentarer

great script, does what i need it to, awesome work m8
Svara
This indicator isn't great as I thought, It repaints. Have to use it together with accumulation/distribution indicator, otherwise you could have big losses. Bassicaly this indicator nothing special. In my broker app. Easymarket if value goes during any time from positive to negative procentage than this indicator also changes during day few times from positive to negative background, so this indicator can be very misleading unless all day something goes negative or positive without reversal of course.
Svara
@stanketa, Well duh it repaints... If the price is above yesterday's close it will change to green. If it is below it will change color to red. That's literally the point of the script. Why would you want it to stay the wrong color for? Hello... Think Mcfly Think...
+6 Svara
stanketa workwithjoemiranda
@workwithjoemiranda, useless script...
+1 Svara
@stanketa, That's your opinion based on it don't do what you need. The script was perfect for what I needed. To change the background color of the pair or stock green for up or red for down from yesterday's close. It does exactly what it is supposed to do. The indicator isn't useless nor is it misleading like you falsely claim. It is supposed to change since the day's prices are not closed for the day. Your comment shows you don't even know what the indicator does. What do you even expect it to do? It is a live indicator and is supposed to repaint as price changes above or below yesterday's close. Useless comment....
+3 Svara
GamerBri workwithjoemiranda
@workwithjoemiranda, how do i trade with it if it repaints? pls help. And how do i know when it shows the right color?
Svara
repo32 GamerBri
@GamerBri, You don't. It is an indicator. If your trading plan utilizes this kind of info, it will be useful to you. You need to do some more reading and watch some videos before jumping in on anything. I would find one setup you are looking for and a timeframe and start from there.
Svara
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